Economy

Scarce loans lead to lagging sales in Raleigh

There's a good chance last year will be remembered for what didn't occur.

The amount of commercial real estate sold in the Triangle in 2009 was $407.8 million, according to CB Richard Ellis' Raleigh office. That was 75 percent less than in 2008 and 85 percent off the market peak in 2007, when $2.8 billion in real estate changed hands.

The numbers reflect the dysfunction in the credit markets and the dance being performed by many underwater property owners and their lenders.

here's a good chance last year will be remembered for what didn't occur.

The amount of commercial real estate sold in the Triangle in 2009 was $407.8 million, according to CB Richard Ellis' Raleigh office. That was 75 percent less than in 2008 and 85 percent off the market peak in 2007, when $2.8 billion in real estate changed hands.

The numbers reflect the dysfunction in the credit markets and the dance being performed by many underwater property owners and their lenders.

Read the complete story at newsobserver.com

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